The inflation target band for 2019 was set by the central bank at 1.5% -3.5%.
The country’s annual inflation rate slowed to 3.5% in September 2019, lower by 0.4 percentage points compared with 3.9% in August 2019, according to data from the country’s statistics board INS. The annual rate calculated on the basis of the Harmonised Index of Consumer Prices (HICP) is 3.5%. The average consumer price rate based on the CPI over the last 12 months (October 2018-September 2019) as compared to the previous 12 months (October 2017-September 2018) is 3.8%. The average rate based on the HICP is 3.9%, INS data also showed.
The central bank on Wednesday (November 6) kept its benchmark interest rate on hold at 2.5% a year. The central bank board also decided to maintain rates for deposit and lending facilities unchanged at 1.5% and 3.5%, respectively. It also left minimum reserve requirements on foreign currency liabilities and for leu deposits unchanged at 8%.